Austin Engineering Company Limited reported a 26% increase in net profit for the financial year ended March 31, 2026, reaching ₹44.41 crore compared to ₹35.27 crore in the previous year. Revenue from operations grew 16% to ₹119.34 crore from ₹102.92 crore in FY25. The board approved the audited standalone and consolidated financial results for the fourth quarter and full year during a meeting held on May 27, 2026.

Financial Performance

The company’s profit for the quarter ended March 31, 2026, stood at ₹9.51 crore, up from ₹7.10 crore in the same period last year. Total income for the quarter rose to ₹31.00 crore from ₹29.44 crore. For the full year, total income increased to ₹122.33 crore from ₹104.98 crore. The statutory auditors, M/s. J. C. Ranpura & Co., issued an unmodified opinion on the financial results.

Segment Results

Austin Engineering operates through two reportable segments: Bearing and Wind Turbine Power Generation. The Bearing segment generated revenue of ₹121.85 crore for the year, while the Wind Turbine Power Generation segment reported revenue of ₹0.48 crore. The total segment results for the year were ₹68.04 crore, with the Bearing segment contributing ₹65.88 crore.

Annual General Meeting

The board has fixed the date for the 48th Annual General Meeting (AGM) on September 28, 2026, at 11:00 A.M. at the company's Registered Office. The book closure period is set from September 22, 2026, to September 28, 2026, to determine shareholder eligibility for the AGM and e-voting.

Board Changes

The board noted the resignation of Mr. Jagdishchandra B. Jagani, an independent director and chairperson of all committees, effective May 20, 2026, due to preoccupancy. Consequently, the board reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee.

austin engineering company has announced the resignation of its Independent Director, Mr. Jagdishchandra Bhagwanjibhai Jagani, effective from the close of business hours on May 20, 2026. The company informed the BSE Limited that the resignation was submitted via a letter dated May 18, 2026, and was attributed to the director's pre-occupancy. The Board of Directors has accepted the resignation and noted that there are no other material reasons for the departure beyond those stated in the letter.

Board Committee Changes

Following the resignation, Mr. Jagani has ceased to hold positions on key board committees. He is no longer the Chairman or Member of the Audit Committee, the Nomination and Remuneration Committee, or the Stakeholders Relationship Committee. These changes are effective from May 20, 2026. The board placed on record its appreciation for Mr. Jagani's contributions and guidance during his tenure.

Director Details

The disclosure confirmed that Mr. Jagani does not hold directorships or memberships of board committees in any other listed entity other than Austin Engineering Company Limited. The company has completed the necessary formalities regarding the resignation through a circular resolution passed by the Board.